Cannabis-related businesses date back to the 1600s when Jamestown exported hemp plants to England. Despite the history of medical cannabis in cultures ancient and contemporary throughout the world, the industry changed in the west 1906 when the U.S. Congress passed the Pure Food and Drug Act. By 1937, it was illegal to sell marijuana, hemp, and cannabis.
Since 1996, 35 states and the District of Columbia have legalized medicinal marijuana. Cannabis products have risen in popularity, and Statistica reports the industry is expected to generate over $24 billion in sales in 2025. and cannabis companies provide a range of services. If you’re thinking of starting a cannabis business, ask yourself these questions to ensure you’re ready to start a cannabis business.
Have you learned about the industry?
Cannabis businesses include cultivators who grow cannabis plants and distributors who sell products. There are also seed banks that sell cannabis seeds and hemp seeds and businesses that sell equipment and supplies needed to make cannabis products. Hemp-based clothing and plastics are also available.
Spend time learning about the cannabis industry in the United States to ensure you understand your business options and identify unmet demand in your area. The best way to ensure your company successfully launches is to enter the marketplace with a product or service other businesses aren’t delivering.
Do you understand cannabis laws?
Cannabis laws have changed significantly over the past 100 years, and state regulations continue to change. You must understand the laws to determine if you can buy from Quebec Cannabis Seeds or Crop King Seeds and have their products shipped across the border. Tetrahydrocannabinol (THC) levels affect how products are classified.
For example, cannabidiol (CBD) products contain no more than 0.3 percent THC. Whether you plan to launch a cannabis seed bank or become a grower, you must understand how international, state, and federal laws impact your business practices.
Consumers should check with their doctors before using cannabis products. If you plan to open a dispensary, you may need to introduce protocols to ensure clients have consulted a physician and aren’t taking any medications the cannabis could interact with.
Do you know what equipment you need?
Suppose you plan to package CBD oil and vape cartridges and sell these products wholesale. You’ll need an oil filling machine to transfer hemp oil and CBD oil into the packaging. You can also opt for a vape filling machine if you plan to focus on vape pens, vape pods, and vape cartridges. Distributors also sell packaging supplies, including CR edible containers, jars, and vials.
Let’s say that you plan to launch a reputable seed bank. A great way to ship marijuana seeds is with stealth shipping, using discreet packaging to prevent theft in transit.
Have you chosen seeds for growing cannabis?
If you plan to grow different strains of cannabis plants, you’ll want to buy from the best seedbanks. Some online seed banks accept credit card payments, while others offer debit card payments and discounts for cryptocurrency payments. Compare weed seeds from the best cannabis seed banks to find the best deal on the cannabis strain you want to grow. Some online seed banks offer worldwide shipping, while others only sell to specific locations.
ILoveGrowingMarijuana (ILGM) has a forum, which is a great way for beginners to get information about different strains. First-time buyers can get advice about choosing and growing the best seeds for their business. ILGM also offers a germination guarantee. MSNL Seedbank offers different packaging options, including stealth and guaranteed stealth. Crop King Seeds boast a marijuana seed germination rate of 80 percent.
Do you know how to secure financing for your company?
The U.S. Small Business Administration (SBA) offers loans for small businesses. These low-interest loans enable small companies to acquire financing to cover start-up and operational expenses. Visit the SBA website to learn more about their resources and how they can help you prepare to launch your cannabis business.
Once you have the financing you need, you can set up a business bank account and apply for a business credit card to purchase the supplies you need to launch your business. You’ll need to hire staff and have an accountant prepare payment options for employees. Your finance department may also establish different funding accounts so you can capitalize on discounts offered when you purchase supplies using approved payment methods.
Starting a cannabis business begins with identifying the type of business you want to start and understanding how state and federal laws could impact your business operations. Once you research the industry and find the best suppliers, you’ll be ready to apply for financing and launch your cannabis business.